The expenditures component of the Cass Freight Index, which measures the total amount spent on freight across the country, rose 1.8% in November. However, on a year-over-year basis the expenditures component decelerated from +21% in September to +11.1% in October to now +4.7% in November. 

What’s the bottom line? The Cass Freight Index is a monthly measure of the North American freight market and it provides valuable insight into supply chain indicators and the overall economy. The latest data shows that the supply and demand imbalance in trucking markets has loosened significantly this year. As a result, freight rates are leveling off and set to soften further in the months to come. Shippers are starting to see real savings and considerable cost relief is now likely for 2023, which is positive news for the inflation picture.